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Showing 17–23 of 23 results
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Decant a trust to add trustee flexibility
May / June 2013
Newsletter: Estate Planner
Price: $225.00, Subscriber Price: $157.50
Word count: 599
Abstract: This article discusses “John,” who is the trustee of his deceased brother’s irrevocable trust. In light of the recently enacted estate tax laws, as well as changing circumstances surrounding his brother’s family, John would like additional flexibility in adapting the trust to the new laws and evolving family situation. One of his options is to decant the trust. Decanting would allow him to use his distribution powers to “pour” funds from the trust into another trust with different terms. Even though this strategy is permitted in many states, decanting laws can vary dramatically among them. The article discusses some common differences.
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Crossing the (state) line – If expansion plans call for doing business in other states, factor in tax liability
Spring 2013
Newsletter: Manufacturer
Price: $225.00, Subscriber Price: $157.50
Word count: 599
Abstract: Expanding companies need to do their homework before expanding into other states, even if it involves no physical presence. Such presence is still required today to trigger sales and use tax collection obligations, but many states require only a minimal presence to establish nexus for income and franchise tax purposes. This article shows how nexus is established and how a company can turn taxation by multiple states to its own advantage.
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Why financial experts should explain themselves
November / December 2012
Newsletter: Valuation & Litigation Briefing / Litigation & Valuation Report
Price: $225.00, Subscriber Price: $157.50
Word count: 599
Abstract: In a recent personal injury case, a federal district court excluded a financial expert’s testimony regarding the plaintiff’s loss of future earning capacity, finding the expert’s methodology unduly speculative. But the Sixth U.S. Circuit Court of Appeals reversed and ordered a new trial on damages. Why? Because it found that the lower court had confused the concepts of lost earning capacity and lost earnings. This article explains why it’s critical for financial experts to provide the reasoning behind their damages calculations when they testify. Citation: Andler v. Clear Channel Broadcasting, Inc., 670 F.3d 717 (6th Cir. 2012)
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Going public – Understand prevailing wage laws before you bid on public works projects
Summer 2012
Newsletter: Construction Industry Advisor
Price: $225.00, Subscriber Price: $157.50
Word count: 599
Abstract: As the economy continues to struggle, many contractors are adding public works projects to their repertoires just to stay profitable. Public projects can be a lucrative source of new work, but they’re also subject to complex federal and state requirements fraught with traps for the uninitiated. Prevailing wage laws are among the most treacherous. This article discusses how “prevailing wages” are determined, the record-keeping that’s necessary, and the penalties for noncompliance.
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How to embrace accountability
Winter 2012
Newsletter: Profitable Solutions for Nonprofits
Price: $225.00, Subscriber Price: $157.50
Word count: 599
Abstract: Nonprofits need to embrace accountability to protect the organization and its people, to demonstrate openness and forthrightness in external dealings and to support the greater good. Embracing accountability also helps not-for-profits fulfill their fiduciary responsibilities to donors, constituents and the public. But how can nonprofits truly embrace this abstract term? This article discusses accountability in terms of governance, financial statements, communications and the organization’s mission.
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Life’s changes beget plan revisions – Disinheriting a child is a difficult, but sometimes necessary, decision
October / November 2010
Newsletter: Insight on Estate Planning
Price: $225.00, Subscriber Price: $157.50
Word count: 599
Abstract: Because circumstances change over time, an estate plan isn’t a static document. It’s meant to be revised. And that includes instances in which it may seem necessary to disinherit a child. This article discusses the steps involved and how to protect an estate plan from the legal challenge a disinherited child might attempt. A sidebar explains that disinheriting a spouse can be much more difficult.
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Estate of Black: Another notch in taxpayers’ FLP belts
September / October 2010
Newsletter: Viewpoint on Value
Price: $225.00, Subscriber Price: $157.50
Word count: 599
Abstract: Family limited partnerships (FLPs) are proven estate planning tools. But the IRS sometimes attacks a partnership’s discounts or business purpose under Internal Revenue Code Section 2036, “Transfers with retained life estate.” This article notes the importance of proper FLP structure, explaining that when the IRS succeeds in proving that the donor or decedent retains ongoing economic benefit — either express or implied — it assesses gift and estate taxes for the full value of the partnership’s underlying assets without allowing discounts for lack of control and marketability.